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iH8snow, the developer behind Sn0wbreeze, iREB, and f0recast has just announced that he is working on a new version of Sn0wbreeze that will offer baseband preservation mode. This feature was first implemented in TinyUmbrella which allows preserving iPhone 4 only baseband while upgrading to iOS 4.1 but this tool stopped couldn’t preserve the baseband while upgrading to iOS 4.2.1.

You will be able to preserve iPhone 4 / 3GS / 3G baseband while upgrading to iOS 4.2.1 to unlock your device with the existing version of ultrasn0w. Below is the first screenshot of the new version:

There’s no ETAs yet, but iH8sn0w plans to roll out Sn0wbreeze 2.2 very soon as he’s in testing phase now. We’ll of course post updates as soon as we know more about it.